Veteran Financial Executive Brings Deep Public Company and Global Operations Expertise as RET Scales Commercial Deployment
NAPLES, FLORIDA / ACCESS Newswire / December 18, 2025 / Rain Enhancement Technologies Holdco, Inc. (NASDAQ:RAIN) ("RET" or the "Company"), a leading provider of ionization precipitation generation technology, today announced that David Sylvester, Senior Vice President and Chief Financial Officer of Steelcase Inc., has joined the Company's Board of Directors. This strategic appointment brings extensive financial leadership and public company expertise to RET's board as the Company accelerates the commercialization and scaling of its weather enhancement technology globally.
David Sylvester serves as Senior Vice President and Chief Financial Officer at Steelcase Inc., where he is also responsible for international business in EMEA and APAC, and oversees global Real Estate, Facilities, and Security. As the longest-serving CFO in Steelcase's 110+ year history, Sylvester was instrumental in the company's transition to public trading in 1998 and the recent merger with HNI Corporation in 2025. His extensive global business experience spans 50 countries, where he has played key roles in acquisitions and divestitures, the setup and management of captive global business centers, and the transformation of Steelcase's operational footprint.
Before assuming the CFO role, Sylvester served as Vice President of Global Operations Finance with responsibility for supply chain strategies and international financial operations. He also served as Finance Leader for Steelcase International, based in Strasbourg, France, and led the Corporate Controlling function in Michigan, following seven years at PricewaterhouseCoopers. Sylvester holds a Bachelor's degree in Accounting and an MBA in Finance from Michigan State University and is affiliated with the American Institute of CPAs.
"David's appointment represents a significant addition to our board as we enter this critical phase of commercial growth," said Randy Seidl, CEO of Rain Enhancement Technologies. His proven financial acumen in scaling global operations, combined with his extensive experience navigating the complexities of public company leadership, will be invaluable as we expand deployment of our precipitation generation technology worldwide. David's track record of driving strategic growth and operational excellence across international markets directly aligns with our mission to provide reliable water access to communities and industries facing water scarcity challenges."
The appointment expands RET's Board of Directors to seven members, strengthening the Company's governance as it advances commercialization of its ionization precipitation generation technology. RET's technology has demonstrated the ability to generate an average of approximately 16% additional precipitation in randomized third-party trials, addressing the critical global water scarcity challenge affecting nearly two-thirds of the world's population.
"I'm honored to join Rain Enhancement Technologies at such a pivotal moment in the Company's evolution," said David Sylvester. "RET's mission to address global water scarcity through proven, scientifically validated technology represents both a tremendous societal opportunity and a compelling growth story. The Company's innovative approach to weather enhancement has the potential to transform water access for agriculture, municipalities, and industries worldwide. I look forward to contributing my experience in financial strategy and operational scaling to help RET achieve its ambitious goals while delivering value to shareholders and communities in need of reliable water resources."
Sylvester's appointment reflects RET's commitment to assembling a board with diverse expertise spanning technology, meteorology, operations, finance, and the Company's key target markets. As RET continues to scale its precipitation generation technology globally and advance strategic partnerships with governments and industries, Sylvester's financial leadership and public company experience will provide critical guidance during this phase of commercial expansion.
The Company's technology addresses the pressing global water scarcity challenge, with nearly two-thirds of the world's population experiencing water shortages for at least one month annually, and demand expected to outpace supply by 40% by 2030. RET's ionization approach offers a scalable solution for industries, governments, and agricultural operations seeking reliable water enhancement capabilities.
About Rain Enhancement Technologies, Inc.
Rain Enhancement Technologies was founded to provide the world with reliable access to water, one of life's most important resources. To achieve this mission, RAIN aims to develop, manufacture, and commercialize ionization precipitation generation technology. This weather modification technology seeks to provide the world with reliable access to water and transform business, society, and the planet for the better. The Company is also developing applications for fog mitigation and snow enhancement to expand weather modification capabilities beyond rainfall generation. To learn more, go to www.investor.rainenhancement.com.
Forward-Looking Statements
The disclosure herein includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "project," "forecast," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward looking. These forward-looking statements include, but are not limited to, (1) statements regarding expected installation of the Company's technology; (2) references with respect to the anticipated benefits of the Company's WETA platform and technology; (3) references to the market opportunity for rain enhancement technologies and products; (4) the projected technological developments of RET; and (5) current and future potential commercial and customer relationships. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of RET's management, and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of RET. These forward-looking statements are subject to a number of risks and uncertainties, as set forth in the section entitled "Risk Factors" in the Company's annual report on Form 10-K for the year ended December 31, 2024, filed with the SEC on April 16, 2025, as amended from time to time. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. The risks and uncertainties above are not exhaustive, and there may be additional risks that Rain Enhancement Technologies, Inc. ("RETI") and RET do not presently know or that RETI and RET currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect RETI and RET's expectations, plans, or forecasts of future events and views as of the date of this press release. RETI and RET anticipate that subsequent events and developments will cause RETI and RET's assessments to change. However, while RETI and RET Holdco may elect to update these forward-looking statements at some point in the future, RETI and RET specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing RETI and RET's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Media Contact
Linda Maynard
Rain Enhancement Technologies
Phone: (617) 869-4832
Email: linda@rainenhancement.com
SOURCE: Rain Enhancement Technologies
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/electronics-and-engineering/rain-enhancement-technologies-appoints-david-sylvester-cfo-of-steelcase-1119057